Pakistan’s leading Food delivery platform, Foodpanda has signed a memorandum of understanding with the Bank of Punjab to improve access to financing for local chefs working on the Food Panda’s platform. The financial Inclusion initiative will be initiated under Prime Minister Kamyab Javan’s Youth Entrepreneurship program.
This collaboration is expected to serve as a catalyst in meeting the financial needs of potential segments of society to help them grow sustainably. The aim of the partnership is to improve the SME sector and provide financial support to these home-based vendors in the challenging times COVID19.
The MoU signing ceremony was held at Foodpaanda’s headquarters in Lahore in the presence of senior management from both organizations. The MOU was signed on behalf of the Bank of Punjab by Mr. Asif Riaz and Noman Sikander on behalf of Foodpanda.
At the signing ceremony, Noman Sikandar, CEO of Foodpanda, said:
At Foodpanda, our goal is to strengthen the masses, both financially and economically. Our partnership with BoP will help our home chefs grow their business with access to affordable funding. We strive to promote financial inclusion among the masses, especially during these difficult times.
Asif Riaz, Director of Retail Banking at BoP said on the occasion:
Bank of Punjab is aiming to forge alliances with innovative organizations such as Foodpanda that contribute to the social and economic uplift of the Pakistani population and, above all, the underrepresented female sector. We expect this alliance to be the starting point for a larger project as we move into the future.
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